Monday's fall to major support, (volume by price bars on left side of chart), at 19.5c & close at the descending triangle's target of 20c was followed by a shift in momentum, (rising MACD), that saw the SP break back into the triangle & above the volume by price resistance. An attempt to breakout through the triangle's resistance line failed with the SP returning to it's support.
A positive sign can be seen in the DMI+ crossing above the DMI- from below. However, a change in my short-term sentiment would require the following -
The SP needs to close above the red resistance line of the descending triangle, the MACD has to cross above it's signal line & the ADX has to rise 4 points, (with the DMI+ staying above the DMI-).
All IMO, DYOR Regards Chalea
BLR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
